Fr. 202d (W-4400). 1861 $1000 Interest Bearing Note. PCGS New 61. Proof.

Fr. 202d (W-4400). 1861 $1000 Interest Bearing Note. PCGS New 61. Proof.，This uniface India paper Proof represents an early Interest Bearing Note design type. It furnishes a nice substitute for an otherwise unavailable note as all issued examples were redeemed. This type has green border prints and security panel. Washingtons portrait is seen at left with intricate 1000 die counters above and below. Liberty is at center with wreath and shield. At right we see the north wing of the U.S. Treasury Building with intricate 1000 die counters above and below. We know of only one Specimen example and this face Proof to represent the type. No issued notes are known. Six punch hole cancellations are found in the signature panels. This type was printed by National Bank Note Company and only two or three such Proofs are believed to exist today. <p><p><p><p><strong>$1,000 Interest-Bearing Notes, March 2, 1861, 6% Interest, 2 Years</strong><p>The small vignette of the United States Treasury Building was also used on the $100 Interest-Bearing Note, March 3, 1863, 5%, 2 years. "NATIONAL BANK NOTE COMPANY" at the bottom border, with 1860 patent to the left. Green counters arranged as part of a cycloidal configuration overprint.<p>At the time of issue these were sold at a discount from face value to reflect the interest to be earned for two years. They did not circulate in commerce, but were held until maturity, then redeemed. There were 8,336 issued. Marvelously, all were redeemed by 1869. This indicates a restricted sale to just a few buyers. Otherwise, some surely would have been lost or stolen.，From the Joel R. Anderson Collection of United States Paper Money, Part I. Earlier from Heritage Auctions sale of May 2005, lot 16689，